Dip held the 107.38
In an earlier post, I outlined the 107.38 level as a support level. It was where an old trend line on the daily came in today.
Watch 107.38 below for clues (look for buyers against that level - a move below is not that great for buyers) . A move above 38.2% is needed for more upside.
The 107.38 found buyers at the level. The price has moved up to test the 38.2% at 107.682.
The levels below and above are holding. Buyers leaned below. Sellers are leaning above.
The battle is on now against the 38.2%. A move above the 38.2% will target 107.809 and 107.88. The 107.809 is the swing low from June 5. The 107.88 is near swing low from June 7 and the 50% of the range for the week (another key level).